Main cryptocurrency funding agency Grayscale has filed a brand new utility with the Securities and Trade Fee (SEC) for a brand new spot Bitcoin (BTC) exchange-traded fund (ETF).
Grayscale on Oct. 19 submitted an S-3 kind registration assertion with the SEC desiring to listing the shares of Grayscale Bitcoin Belief on the New York Inventory Trade (NYSE) Arca beneath the ticker image GBTC.
The brand new submitting comes according to Grayscale’s ongoing effort to convert its Grayscale Bitcoin Belief right into a spot Bitcoin ETF, in accordance with an announcement by Grayscale.
“We stay dedicated to working collaboratively and expeditiously with the SEC on behalf of GBTC’s traders,” the agency wrote within the announcement.
The newest S-3 registration assertion is a shorter submitting model of a typical kind S-1 assertion that targets preliminary public providing of fairness securities registered beneath the Securities Act.
“GBTC, nevertheless, is eligible to make use of Type S-3, a shorter submitting that includes by reference its SEC disclosures and stories, as a result of its shares have been registered beneath the Securities Trade Act of 1934 since January 2020 and it meets the opposite necessities of the shape,” Grayscale famous.
The agency talked about that Grayscale will be capable to convert GBTC to an ETF and challenge shares on a registered foundation as soon as NYSE Arca’s 19b-4 utility utility is authorised and the Type S-3 have to be declared efficient by the SEC. The announcement added:
“Importantly, GBTC is able to function as an ETF upon receipt of those regulatory approvals, and on behalf of GBTC’s traders, Grayscale appears to be like ahead to working collaboratively and expeditiously with the SEC on these issues.”
This can be a growing story, and additional data shall be added because it turns into obtainable.
